Tax Increment - Financing

Tax Increment Financing (TIF) is a real estate redevelopment technique, applicable to industrial, commercial and residential project improvements, to cover the costs of publicly provided project improvements. TIF uses the anticipated increases in real estate tax revenues resulting from enhanced property values to retire bonds sold to finance qualifying redevelopment costs.

The advantages of TIF for business include 1) financing of land acquisitions and improvements with tax-free borrowing, thus reducing interest costs, and 2) offering the opportunity to purchase renovated sites and/or buildings at sub-market costs.

Moneys raised through TIF can be used for initiatives selected and administered by local governments, such as land acquisition, land and building cost subsidies, structure rehabilitation and public improvements.

TIF works for both privately owned land and publicly owned land to be sold for redevelopment. It is available only if private redevelopment would not occur without public improvements. TIF cannot be used speculatively to prepare a site for development.

For more information and to make an application contact:
Leavenworth County Development Corporation mail@LVCountyED.org
or

City of Basehor - (913) 724-1370

City of Lansing - (913) 727-3036

City of Leavenworth - (913) 682-9201

City of Tonganoxie - (913) 845-2620